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GBPUSD Holds Range for Now

GBPUSD Holds Range for Now

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gbp-usd_body_gbpusd.png, GBPUSD Holds Range for Now

Prepared by Jamie Saettele, CMT

15900 remains a level of interest. To review, “15900 is the 100% extension of the rally from 15267 and 61.8% retracement of the decline from 16300.” Key an eye on 15800 as well, which is where the rally from 15457 would equal the rally from 15392. In general, GBPUSD action since the 6/1 low is corrective but will probably complete at slightly higher levels. 15550-15610 is support.

LEVELS: 15576 15613 15666 15777 15800 15900

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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